Paypal Vs Payoneer Vs TransferWise ( Help Neede...

Paypal Vs Payoneer Vs TransferWise ( Help Needed ) - Receiving Money From USA

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Deal Lieutenant
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I would like to know which is the best way to receive money
from a USA based client (doing a wire-transfer to a USA bank account )
to my Indian bank account with minimum charges.

existing users of any of the above Services , Please provide your feedback on this
also which Indian bank you are using and their charges on receiving the money grinning

Any help would be highly appreciated.

7 Comments  |  
4 Dimers
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Try this https://www.xoo...m/.
If helpful,don’t forget to add karma.😃😃.Instant transfer to PNB,Axis,HDFC bank.

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Relaxing_Frog wrote:

Try this https://www.xoo...m/.
If helpful,don’t forget to add karma.😃😃.Instant transfer to PNB,Axis,HDFC bank.

Thanks for the help bro.. I am already aware of the service… and Its by Paypal..
money has to be received in Indian account and not sent from the account,
and the only option available with the USA client is wire transfer or Paypal,
since Paypal charges hefty fees for credit , Other option are being considered.

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Deal Newbie
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TransferWise is best compare to other options exchange rate is better and you will receive almost Instant.

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Deal Subedar
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TransferWise and InstaRem are 2 good options brother, no charges for receiving money, they will deduct a few whilst the sender sends, check realtime fees and exchange rates

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Deal Lieutenant
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dummyuser wrote:

TransferWise and InstaRem are 2 good options brother, no charges for receiving money, they will deduct a few whilst the sender sends, check realtime fees and exchange rates

thanks bro.. I had a doubt regarding the Bank account , since the USA guy can only do a wire-transfer to bank account ,
if i open an account with Tranferwise , will they open a bank
account in my name in which the USA client can do a wire-transfer
and can you give an appoximate example calculation , like if the client tranfers $500 , to the
bank account in Transferwise , how much deductions will be there before the funds gets
transferred to my Indian account… and how much appoximate amount will be credited in
Indian Bank account..
Will the Indian bank also deduct some fees or exchange rate conversion charges sort of things…

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Deal Subedar
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Expand
beastboy wrote:

thanks bro.. I had a doubt regarding the Bank account , since the USA guy can only do a wire-transfer to bank account ,
if i open an account with Tranferwise , will they open a bank
account in my name in which the USA client can do a wire-transfer
and can you give an appoximate example calculation , like if the client tranfers $500 , to the
bank account in Transferwise , how much deductions will be there before the funds gets
transferred to my Indian account… and how much appoximate amount will be credited in
Indian Bank account..
Will the Indian bank also deduct some fees or exchange rate conversion charges sort of things…

You don’t need to open any account with transferwise, the sender pays to transferwise, and transferwise will eventually do an NEFT/RTGS to your account in India. While sending money the sender will need to mention your IFSC and A/C Number.

Check rates and calculation here → https://transferwise....in
Enter send amount as 500 USD, receive currency as INR, you will see the fees and guaranteed exchange rate also

Indian bank A/C should not deduct any fees, since Transferwise doesn’t send from overseas to your bank A/C, they will send you funds from their offshore Indian A/C via NEFT/RTGS, and you know receiving funds via NEFT/RTGS is free

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Deal Subedar
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Just that the sender will need to mention a “Purpose code” mentioning the purpose of sending these funds to you, this is standard practise, if this is an invoice, they will have to mention accordingly. Also don’t forget to declare this income while filing your ITR smile

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